Civitas Resources, Inc. Announces Offering of $1,350 Million of New Senior Notes Due 2028 and $1,350 Million of New Senior Notes Due 2031

Jun 20, 2023

Civitas Resources, Inc. (the “Company”) (NYSE: CIVI) today announced that, subject to market conditions, it intends to offer $1,350 million in aggregate principal amount of senior unsecured notes due 2028 (the “2028 Notes”) and $1,350 million in aggregate principal amount of senior unsecured notes due 2031 (the “2031 Notes” and, together with the 2028 Notes, the “Notes”) in a private placement (the “Offering”) to eligible purchasers under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to use the net proceeds from the Offering, together with cash on hand and borrowings under the Company’s Credit Facility, to fund a portion of the consideration for the Acquisitions (as defined below).

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